Harris Teeter Supermarket (HTSI) Merger Lawsuit
Harris Teeter (HTSI) merger summary
Harris Teeter (HTSI) announced it entered into a definitive merger agreement whereby it will be acquired by Kroger Co. in a transaction that values Harris Teeter at approximately $2.5 billion. Under the terms of the Harris Teeter merger agreement, Harris Teeter shareholders will receive $49.38 in cash for each share of HTSI owned. Harris Teeter will operate as a wholly-owned subsidiary of Kroger's.
The law offers a mechanism for Harris Teeter shareholders to challenge the fairness of the proposed transaction
If you are a Harris Teeter shareholder and would like to learn more about your rights to challenge the Harris Teeter merger, please complete the web form on this page or call George Pressly, Esq. at 1-(800) 631-6234.
The Harris Teeter board of directors has explicit duties to HTSI shareholders during the acquisition process
- Is $49.38 per share a fair value for Harris Teeter shareholders? That price is but 2% above HTSI closing price on the day prior to the announcement.
- Has the Harris Teeter board of directors obtained a fair and independent appraisal?
- Have all going-forward compensation packages for current Harris Teeter executives been properly disclosed in the proxy statement?
- Has the board of directors properly shopped Harris Teeter to potential additional suitors?
Harris Teeter (HTSI) merger review may turn into shareholder class action lawsuit
Harris Teeter shareholders can employ a state law procedure that could force senior management and the board of directors to more adequately disclose the complete terms and conditions of the Harris Teeter merger. We are investigating whether the proposed transaction is fair to Harris Teeter shareholders. The investigation concerns whether Harris Teeter’ s board of directors’ process for consideration of the proposed transaction was adequate, whether Harris Teeter is acting in its shareholders’ best interests and whether the proposed share price to be paid to Harris Teeter shareholders is fair and adequate.
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